Follow Us:
Sunday, June 20, 2021

Twitter founder will have to give up Square to become CEO

Dorsey was named interim CEO after Dick Costolo stepped down effective July 1 amid criticism over Twitter's disappointing financial performance

June 23, 2015 12:57:11 pm
Jack Dorsey, Twitter In this April 24, 2013 file photo, Twitter co-founder and Chairman Jack Dorsey speaks at a campaign fundraiser for Democratic Candidate for Public Advocate Reshma Saujani, in New York. Twitter CEO Dick Costolo will step down after almost five years, the company and Costolo announced Thursday, June 11, 2015. The San Francisco company says Dorsey, 38, will be its interim CEO while it looks for a replacement. (Source: AP)

Jack Dorsey would have to give up his post at Square if he’s to become CEO of Twitter. The company he helped found and now leads on an interim basis said Monday that it is only considering candidates who can make a “full-time commitment to Twitter.”


Dorsey was named interim CEO after Dick Costolo stepped down effective July 1 amid criticism over Twitter’s disappointing financial performance and share price decline. Costolo had been Twitter’s CEO for five years and led the company through a successful stock market debut in 2013. But Twitter has yet to make a profit and there are concerns about its ability to grow its user base.

Peter Currie, chair of Twitter’s search committee, says the company is looking for a “bold thinker and proven leader.”

While some analysts expect Dorsey to be hired to the permanent post, this would mean giving up his job at Square, the payments startup, and Dorsey has not indicated that he would do this. He said in June when he accepted the CEO post that he will continue to lead Square.

“We have built a very strong company from top to bottom, and I am as committed as ever to its continued success,” Dorsey said in a statement on June 11.

📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines

For all the latest Technology News, download Indian Express App.

  • The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.